As professional insurance agents Perth, we see a lot of people make some very common mistakes with their insurance – mistakes which could ultimately cost you both time and money. Today, we’ll be exploring some of the insurance mistakes you could be making so you can avoid them in the future.
Not having enough insurance cover
Underinsurance is a big issue in Australia and a lot of households don’t have sufficient cover. Many people try to save money on their insurance by having minimal insurance, or even no insurance at all, so they pay lower premiums. Although this can work out cheaper in the short term, it can come back to bite you in the long run when you don’t have the right cover at claim time. In other cases, people unintentionally underestimate how much their property and possessions would cost to replace and don’t insure for a high enough amount. Always make sure that all of your risks are adequately covered by insurance and that you get an accurate estimate of how much replacements would cost.
Not reading the details of the policy
Reading the fine print of your insurance policy may not be particularly interesting but it’s important that you know exactly what your policy covers. Read up on the inclusions and exclusions of your insurance so there are no surprises at claim time – the last thing you want is to assume you’re covered for something only to find that it’s not the case after submitting a claim. If you’re not sure about the details of your policy, simply as your broker.
Not reviewing your insurance regularly
Once you’ve found an insurance policy which meets your needs, don’t just keep paying the premiums year after year without thinking. If you do this, you could be missing out on policies which provide better cover or offer more competitive premiums. When your insurance comes up for renewal, shop around and see what other products are out there.
Not using an insurance broker
One of the biggest mistakes people make when it comes to their insurance is forgetting to use the services of an insurance broker. Insurance brokers are insurance experts who work on behalf of their clients to identify your specific areas of risk and find the best insurance policy to cover these risks. They also step in at claim time to help you with the best outcome from the insurer. Your broker will be available to answer any questions you may have about your insurance.
If you’re looking for a professional WA insurance broker Perth, GSK Insurance Brokers can help. We have the knowledge and experience to deal with increasingly complex conditions so you can be confident that all of your risks are covered. At GSK our focus is our clients and we aim to provide the highest levels of service, cover and value.
For insurance brokers Perth, WA, contact GSK Insurance Brokers today on (08) 9478 1933.